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Finance

With changes in the general economy have come changes in the self-storage finance world. Self-storage lenders, like those for all commercial real estate, apply more stringent underwriting standards when evaluating the potential of a construction, permanent or other self-storage loans. Even the refinancing process has become more challenging for self-storage owners, who must weigh their options and exit strategies. Some negotiate with lenders in an attempt to salvage underperforming self-storage properties. Tax issues are also a significant concern for self-storage owners. Cost segregation and 1031 exchange are possibilities to be explored. Financial and operating performance is reported quarterly by the self-storage real estate investment trusts (REITs): Public Storage Inc., U-Store-It Trust, Sovran Self Storage and Extra Space Storage.

Dallas-based real estate investment firm Houghton Acquisition Co. LLC has acquired Cordova Stor-N-Lock, a self-storage facility in Cordova, Tenn., for $2.1 million. This is the second time the property has sold in the last four months after facing foreclosure. ...More

Generally speaking, the majority of self-storage finance transactions fit into the category of small-balance deals. There are many special programs for small loans, each with its advantages and disadvantages. Here are tips to finding the right one for your business. ...More

A well-executed 401(k) plan may be a tool for recruiting and retaining talented employees, but it can also be a tax benefit for self-storage owners. Every small-business owner who offers a 401(k) plan to employees should take a hard look at the design, fees and investment ...More

The board of directors for Extra Space Storage Inc., a self-storage real estate investment trust, has declared a quarterly dividend of $0.40 per share on the common stock of the company for the third quarter of 2013. ...More

Strategic Storage Trust II Inc. has filed plans for an initial public offering (IPO) of as much as $1.1 billion to raises funds to invest in a portfolio of self-storage facilities and related real estate investments. Formed in January, the company plans to seek status as a ...More

Cushman & Wakefield's Valuation & Advisory is pleased to share its latest business briefing on the state of the self-storage industry. The report includes information on interest-rate volatility and its effect on the self-storage market. It also shares limited ...More

Self-storage owners with good-performing, stabilized properties can now negotiate loans with excellent finance terms and interest rates. Here are five important factors that can put you on track to get a great deal from a lender. ...More

For borrowers looking to take advantage of today’s lending market, defeasance presents the opportunity to drop their rates while protecting themselves against probable interest-rate increases over the next few years. ...More